Hines Makes Weak Wall Street Debut
Hines Horticulture Inc. had a disappointing Wall Street debut Tuesday as its shares, which fetched $11 on Monday, closed unchanged in first-day trading.
The Irvine-based company is one of the largest commercial nursery operations in North America. On Monday, the company sold 5.1 million shares at $11 each, 21% below the bottom of the expected range of $14 to $16 set by lead underwriter Lehman Brothers Inc.
The offering raised $56.1 million, about a third less than the $81 million originally expected.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
